Latest news with #RM16.8
New Straits Times
03-06-2025
- Business
- New Straits Times
Ramssol to distribute iFlytek's AI solutions under RM16.8mil deal
KUALA LUMPUR: Ramssol Group Bhd has signed a partnership agreement worth RM16.8 million over three years with China-based artificial intelligence firm iFlytek. Ramssol is appointed as the authorised distributor and reseller of iFlytek's AI software solutions via the iFlytek open platform throughout Asia. The platform is recognised for its capabilities in areas such as speech recognition, machine translation and natural language processing, offering AI-driven solutions that support digital transformation across various industries. Ramssol said the partnership represents a key step in its regional expansion strategy, allowing the company to deliver enterprise-grade AI applications customised for multilingual markets. It added that the partnership aligns well with the Asean Responsible AI Roadmap (2025–2030), which outlines regional goals for promoting the responsible and inclusive adoption of AI technologies. Group chief operating officer Brian Liew said the collaboration represents a significant advancement in Ramssol's AITech capabilities and underscores the company's dedication to expanding access to cutting-edge AI solutions across Asia.
Borneo Post
28-05-2025
- Business
- Borneo Post
Sarawak records RM16.8 bln trade surplus in Q1 2025, says Awang Tengah
Awang Tengah noted that with Malaysia assuming the Asean chairmanship, efforts are being made to enhance the bloc's role in talks with the US, aiming to mitigate trade disruptions and safeguard regional economic stability. KUCHING (May 28): Sarawak maintained strong trade relationships with its major partners and recorded a trade surplus of RM16.8 billion despite facing challenges in the first quarter of 2025, said Deputy Premier Datuk Amar Awang Tengah Ali Hasan. The International Trade, Industry and Investment Minister stated that while trade volumes fluctuated, the surplus underscores the state's economic resilience and ability to adapt to shifting global trade dynamics. 'Sarawak is expected to face minimal direct impact from the United States (US) reciprocal tariff. 'However, increasing trade tensions and uncertainties could pose risks to external trade and domestic demand. 'Nevertheless, Sarawak's trade ties with key Asian economies remain robust, underpinned by Free Trade Agreements (FTAs) that help diversify and expand export markets,' he said when delivering his ministerial winding-up speech at the State Legislative Assembly (DUN) Sitting today, Awang Tengah noted that with Malaysia assuming the Asean chairmanship, efforts are being made to enhance the bloc's role in talks with the US, aiming to mitigate trade disruptions and safeguard regional economic stability. 'Concurrently, Sarawak is intensifying its global trade engagement, particularly with the European Union and Middle East. 'By leveraging regional agreements such as the Regional Comprehensive Economic Partnership (RCEP) and the Asean-China Free Trade Agreement, the state aims to penetrate new markets. 'In line with this, local small and medium enterprises are encouraged to optimise resources, enhance efficiency and explore trade opportunities through business-matching initiatives,' he added. Awang Tengah emphasised that Sarawak's trade continues to be a key driver of economic growth, demonstrating resilience amid global uncertainties. 'The state's major trading partners remain Japan, China, South Korea and India,' he said. Awang Tengah said for 2024, exports grew by 2.3 per cent to RM133.8 billion, driven mainly by natural gas, crude petroleum and vegetable oils. 'Imports, on the other hand, grew by 3.1 per cent to RM64.5 billion, fuelled by higher demand for petroleum products, motor vehicles and aluminium ore. 'This led to a 1.5 per cent expansion in the trade surplus, reaching RM69.3 billion, reflecting stable growth in Sarawak's key traded goods,' he added. Awang Tengah Ali Hasan export import lead trade
Malay Mail
21-04-2025
- Business
- Malay Mail
MIDF: Foreign investors withdraw US$3.84b from Asian markets in third week of selling, Malaysia's outflows ease as India, Philippines buck the trend
KUALA LUMPUR, April 21 — Foreign investors extended their net selling in Asian markets for a third consecutive week, with a substantial net outflow of US$3.84 billion (RM16.8 billion). According to MIDF Amanah Investment Bank Bhd's Fund Flow Report for the week ended April 18, 2025, only the Philippines and India registered net foreign inflows among the markets tracked. All other countries posted outflows, with Taiwan experiencing the steepest foreign selling. India led regional inflows with US$990.4 million, reversing a two-week streak of net selling. The return of investor confidence was attributed to easing inflation and a resilient domestic growth outlook. 'Consumer Price Index inflation fell to a 67-month low of 3.34 per cent in March 2025, mainly due to food price deflation, while rural demand is expected to remain buoyant amid forecasts of a normal monsoon. 'Although Fitch trimmed India's gross domestic product (GDP) forecast to 6.4 per cent on trade war risks, the Reserve Bank of India maintains a 6.5 per cent growth target,' the report said. MIDF Amanah also noted progress in India's trade talks with the United States, with the country considering the removal of import duties on ethane and liquefied petroleum gas to enhance energy security and strengthen bilateral ties. The Philippines ended a three-week selling streak with a modest net inflow of US$6.5 million. Indonesia, meanwhile, saw a net outflow of US$1.26 billion, its second consecutive week of foreign selling. Indonesia's palm oil sector is calling on the government to reduce export taxes and levies in response to reciprocal tariffs of 32 per cent imposed by the US, which are expected to lower farm-gate prices by up to 3.0 per cent, the report added. In Korea, foreign investors extended their net selling for a fourth week, with outflows totalling US$1.00 billion. The government has announced a US$8.6 billion supplementary budget to support sectors hit by US tariffs, notably autos and semiconductors. Vietnam posted US$185.8 million in outflows, marking its eleventh straight week of foreign selling. While President Xi Jinping's recent visit to Hanoi resulted in over 40 cooperation agreements, Vietnam steered clear of publicly aligning with China's anti-US stance. Thailand recorded US$26.9 million in net outflows, its eighth straight week of foreign selling. The Bank of Thailand warned that US tariffs could reduce GDP growth by up to one percentage point, with the full impact likely to be felt in the second half of the year. On the domestic front, foreign net selling on Bursa Malaysia eased to RM330.5 million, sharply lower than the RM1.97 billion recorded the previous week. Foreign investors were net sellers every trading day except Friday, which saw a net inflow of RM39.9 million. The largest outflow occurred on Wednesday at RM153.6 million, while other days ranged between RM16.2 million and RM120.6 million. Friday's inflow followed five consecutive days of outflows. The sectors that saw net foreign inflows were telecommunications and media (RM119.5 million), consumer products and services (RM34.4 million), and property (RM2.45 million). The top three sectors with the highest net foreign outflows were financial services (RM96.6 million), technology (RM87.0 million), and construction (RM80.8 million). Local institutions continued to support the market, recording their 26th consecutive week of net buying, with inflows of RM356.2 million. Local retail investors turned net sellers with outflows of RM25.7 million, reversing a two-week buying trend. The average daily trading volume declined across the board, with foreign investors, local institutions, and local retailers registering decreases of 48.7 per cent, 56.7 per cent and 47.2 per cent, respectively. — Bernama
Malay Mail
21-04-2025
- Business
- Malay Mail
MIDF: Foreign investors withdraw US$3.84b from Asian markets in third week of selling, India and Philippines buck the trend
KUALA LUMPUR, April 21 — Foreign investors extended their net selling in Asian markets for a third consecutive week, with a substantial net outflow of US$3.84 billion (RM16.8 billion). According to MIDF Amanah Investment Bank Bhd's Fund Flow Report for the week ended April 18, 2025, only the Philippines and India registered net foreign inflows among the markets tracked. All other countries posted outflows, with Taiwan experiencing the steepest foreign selling. India led regional inflows with US$990.4 million, reversing a two-week streak of net selling. The return of investor confidence was attributed to easing inflation and a resilient domestic growth outlook. 'Consumer Price Index inflation fell to a 67-month low of 3.34 per cent in March 2025, mainly due to food price deflation, while rural demand is expected to remain buoyant amid forecasts of a normal monsoon. 'Although Fitch trimmed India's gross domestic product (GDP) forecast to 6.4 per cent on trade war risks, the Reserve Bank of India maintains a 6.5 per cent growth target,' the report said. MIDF Amanah also noted progress in India's trade talks with the United States, with the country considering the removal of import duties on ethane and liquefied petroleum gas to enhance energy security and strengthen bilateral ties. The Philippines ended a three-week selling streak with a modest net inflow of US$6.5 million. Indonesia, meanwhile, saw a net outflow of US$1.26 billion, its second consecutive week of foreign selling. Indonesia's palm oil sector is calling on the government to reduce export taxes and levies in response to reciprocal tariffs of 32 per cent imposed by the US, which are expected to lower farm-gate prices by up to 3.0 per cent, the report added. In Korea, foreign investors extended their net selling for a fourth week, with outflows totalling US$1.00 billion. The government has announced a US$8.6 billion supplementary budget to support sectors hit by US tariffs, notably autos and semiconductors. Vietnam posted US$185.8 million in outflows, marking its eleventh straight week of foreign selling. While President Xi Jinping's recent visit to Hanoi resulted in over 40 cooperation agreements, Vietnam steered clear of publicly aligning with China's anti-US stance. Thailand recorded US$26.9 million in net outflows, its eighth straight week of foreign selling. The Bank of Thailand warned that US tariffs could reduce GDP growth by up to one percentage point, with the full impact likely to be felt in the second half of the year. On the domestic front, foreign net selling on Bursa Malaysia eased to RM330.5 million, sharply lower than the RM1.97 billion recorded the previous week. Foreign investors were net sellers every trading day except Friday, which saw a net inflow of RM39.9 million. The largest outflow occurred on Wednesday at RM153.6 million, while other days ranged between RM16.2 million and RM120.6 million. Friday's inflow followed five consecutive days of outflows. The sectors that saw net foreign inflows were telecommunications and media (RM119.5 million), consumer products and services (RM34.4 million), and property (RM2.45 million). The top three sectors with the highest net foreign outflows were financial services (RM96.6 million), technology (RM87.0 million), and construction (RM80.8 million). Local institutions continued to support the market, recording their 26th consecutive week of net buying, with inflows of RM356.2 million. Local retail investors turned net sellers with outflows of RM25.7 million, reversing a two-week buying trend. The average daily trading volume declined across the board, with foreign investors, local institutions, and local retailers registering decreases of 48.7 per cent, 56.7 per cent and 47.2 per cent, respectively. — Bernama
